THE LIST L.A. MONEY MANAGEMENT FIRMS The Largest …

[Pages:2]14 LOS ANGELES BUSINESS JOURNAL

MAY 28, 2012

THE LIST

L.A. MONEY MANAGEMENT FIRMS

Ranked by assets managed as of Dec. 31

X NEXT WEEK The Largest Minority-Owned Businesses in L.A. County

X EXECUTIVE SUMMARY

THE 25 largest money management firms in Los Angeles County had $1.79 billion in assets as of Dec. 31. That was down $119 billion, or 6 percent, from 2010.

The biggest increase was at L.A.based Doubleline Capital LP, which had $24 billion in assets as of Dec. 31, up from $5 billion in 2010. The company was founded by Jeffrey Gundlach after the bitter separation from his former firm, TCW Group Inc.

Other gainers include Santa Monicabased Wilshire Associates Inc., which reported that assets increased by 12 percent to $80 billion, and L.A.-based Payden & Rygel, up 13 percent to $62 billion.

The biggest drop on the list was by top firm Capital Research and Management Co., which shed $112 billion in assets locally last year. Its sister firm Capital Guardian Trust Co. reported $42 billion in assets, down by $15 billion, or 26 percent, from 2010.

In general, firms listed invest in a diverse group of assets such as real estate, stocks and bonds. Two firms listed, CBRE Global Investors LLC and Colony Capital, invest exclusively in real estate.

Overall, the 25 largest money management firms employ more than 280 portfolio managers and 300 researchers in their local offices.

? David Nusbaum

X THE TRENDS

Ups and Downs

Net asssets of U.S. mutual fund shareholder accounts.

$12 (in trillions)

10 8 6 4 2 0

2003 2004 2005 2006 2007 2008 2009 2010 2011

Account Holders

The number of U.S. mutual fund shareholder accounts. 300 (in millions) 280

260

240

220

200 2003 2004 2005 2006 2007 2008 2009 2010 2011

Source: Investment Company Institute

X THE PACESETTER

WITH assets of $976 billion, Capital Research and Management Co. tops the list of the largest money management firms in Los Angeles County. The downtown firm is part of Capital Group Cos., which has more than $1.1 trillion in total assets.

The company operates the Ameri- Money Manager: Capital Group can Funds family of mutual funds. In addition to its 33 different mutual funds in operation that make investments worldwide, the company added eight funds that opened for investments May 18 in its American Funds Portfolio Series. The eight new funds invest in different groups of funds to provide mixes of stocks and bonds. The funds vary in their approach ? some offering riskier investments in growth funds and others with more conservative strategies.

The company is also offering 10 Target Date Retirement Funds that reconfigure investments for risk mitigation as the fund approaches the target date. Those are available as retirement account investments and are targeted at college students.

The new funds represent a change for the 81-year-old firm, which is dealing with increased competition and an outflow of assets. The company reported that its assets peaked at nearly $1.6 billion in 2006.

Capital Group Cos. is headquartered in downtown Los Angeles and has 23 offices worldwide. It opened its most recent office in Sydney, Australia, last year. The company has more than 7,000 employees worldwide.

? David Nusbaum

#

& 2 1 / . $ &8 && &2 &1

,"

#" ,- 5-0

'0!-,#

#"#0%*

&9:/&=

9:-97 -0,#9--0

#"#0

969;+.96?. $+16+8C@/31

&+8=+!983-+ "

"

"

"

"

"

" "

;/19;B(B=29?/8 /00;/B>8.6+-2

9;3/

9-/&3798

;>-/&3798

9?3699<

9=82060=

8A;.97

"

$,>0

9=82060=

 6,.,:7.97

(397,='>0@08= ,6*&0C896/=

9=82060=

"

"

!22!..5/2',

?8>482>983$,=,/08, "

"

'!%2)!2#%$%2

>3'>'?4>0

" ',8>,!984.,

-0,.3:948>.,:4>,6.97

938%?48>,8,<

,3

',8>,!984.,

'.9>>6048

./%2)!2#.'5)

',8>,!984.,6@/'?4>0

9=82060=

 ..,:.97

$,>>4 48=60C

9774>>00

9=82060=

90)496,

;%#92!%6/2'./ *41>3'>

>3699<

9=82060=

,848@0=>9: ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download